| Spotlight on efforts to deliver risk-based regulation |
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| Written by Charlie | |
| Sunday, 23 March 2008 | |
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The first Hampton Implementation Reviews, released today, meet the government's commitment to ensure the risk-based principles of regulatory enforcement are practiced. This means more rigorous inspection when there is high risk of a business not complying with regulation and less inspection and regulatory burden for the majority of compliant businesses. The reviews show regulators have got better at concentrating on businesses who break the law, while having a light touch approach to those who comply with it. But there is more work to do. Business and Competitiveness Minister Shriti Vadera said: "The Government recognises that regulation is one of the top concerns for business. "Businesses who comply with regulation should not be faced with unnecessary burdens. Enforcement must be focussed at companies who seek to benefit by flouting the law. "Scrutinising how regulators implement their principles is key to delivering our promises to cut red tape." The Hampton Implementation Reviews follow two independent reports by Sir Philip Hampton and Professor Richard Macrory on making inspection and enforcement of regulation more effective. Today's reports examined the Health and Safety Executive, Environment Agency, Food Standards Agency, Financial Services Authority and Office of Fair Trading. The teams looked at the way the regulators work with business, as well as seeking feedback from the companies and other organisations they deal with. Other regulators will now face similar scrutiny. Key areas for improvement by the regulators have been highlighted, as well as the improvements they have made already. As part of the better regulation agenda, the government has committed to cutting the administrative burden placed on business by 25%, or £3.5bn a year, by 2010. £800m a year has already been cut from the red tape burden facing businesses. |
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| Last Updated ( Sunday, 23 March 2008 ) |
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